Heat the olive oil in a large saucepan and saute the diced bacon, finely chopped onion and garlic for about 5 minutes or until golden, stirring occasionally.
Add the tomatoes, the tomato paste, diced red pepper and sugar. Season to taste with salt and pepper.
Simmer the sauce gently, uncovered, for about 1 hour. Taste and re-season if needed before serving on hot pasta.